General Lease Terms

(As of January 1, 2015)

General Negotiable Monetary Lease Terms

Lease Terms Available:

 One to Ten Years

Monthly Minimum Rent:

 $2.25 to $3.75 per square foot

Percentage Rent:

 6% to 8%
How percentage rent works:Example: Tenant leases a 2,000 square foot store; pays minimum rent of $4,500 per month ($2.25 per square foot x 2,000 square feet = $4,500 per month). Tenant’s lease has a percentage rate of 7%. The Tenant’s “natural sales breakpoint” is $64,286 per month.Tenant’s sales in a month were $110,000; therefore, to calculate Percentage Rent:

Gross Sales for the Month $70,000
Multiply Sales by Percentage Rate x 7%
Sub-Total $ 4,900
Less Monthly Minimum Rent Paid 4,500
Total Percentage Rent Due $ 400

 

Lease Deposit:

 Equal to approximately Two Months of Monthly Minimum Rent

CAM:

 Tenant to pay pro-rata share of Common Area maintenance, property taxes and insurance which currently runs 65¢ per square foot per month (non-negotiable obligation)
Example: 2,000 square feet x 65¢ per month = $1,300 per Month

Promotional Fund Dues:

 $2.50 to $3.50 per square foot per year payable monthly
Example: 2,000 square feet x $3.00 = $6,000 ÷ 12 months = $500 Per Month for Promo Dues

All other lease terms will be addressed in our Lease Form.